Two-Story Shopping
For Sale
Contact for pricing
20333 Southwest Fwy, Sugar Land, TX 77479
Retail center with established occupancy, national and local operators, and a drive-thru restaurant component.
Property Size11,177 SF
Price / SF$331.04
Days on Market163
Property Features for 20333 Southwest Fwy
General Information
Standard status
Active
Size
11,177 SF
Class
B
Property subtype
Retail
Occupancy
91%
Lease Type
NNN
Investment Type
Stabilized
Net Operating Income
$235,000
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Anchor Co-Tenants
DaVita Dialysis, Domino's Pizza
Traffic Count
127,000 vehicles/day
Highway Access
Yes
Building Details
Year Built
1997
Year Renovated
2020
Buildings
1
Stories
2
Units
1
Tenancy
Multi
Listing Agency:
Oliver CRE
Listed By:
Karl Oliver · License #732167
(281) 223-5031
Source:
Crexi
Added: Mar 25
Changed: Sep 2
Last Checked: Sep 1 at 5:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Oliver CRE
Investment Insights
Based on property information with market context.
This two-story shopping center contains 11,177 SF and is currently 92% leased to a combination of local and national operators. Existing occupants include DaVita Dialysis and Domino’s Pizza, with the restaurant space featuring a drive-thru window. The tenant mix serves daily consumer and healthcare needs within the surrounding trade area.
The property occupies the southeast corner of I-69/US-59 and the Grand Parkway, also identified as Hwy 99/Crabb River Rd, in Sugar Land’s portion of the Houston MSA. Visibility from I-69/US-59 is supported by reported traffic of 127,000+ cars per day. Within 5 miles, the property is supported by a population of 138,000+, a daytime population exceeding 123,000, and average household income within 3 miles of over $120,000.
The property occupies the southeast corner of I-69/US-59 and the Grand Parkway, also identified as Hwy 99/Crabb River Rd, in Sugar Land’s portion of the Houston MSA. Visibility from I-69/US-59 is supported by reported traffic of 127,000+ cars per day. Within 5 miles, the property is supported by a population of 138,000+, a daytime population exceeding 123,000, and average household income within 3 miles of over $120,000.
Key Highlights
- 11,177 SF two‑story shopping center
- 92% leased to local and national operators
- DaVita Dialysis and Domino’s Pizza are existing occupants
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$129,564
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,591,280
$2.6M
Cap Rate 7%
$1,850,914
$1.9M
Cap Rate 9%
$1,439,600
$1.4M
Market Conditions
NOI Build-Up for 11,177 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$201.2K $18.00/SF
− Vacancy
−$16.1K −$1.44/SF
EGI
$185.1K $16.56/SF
− OpEx
−$55.5K −$4.97/SF
NOI
$129.6K $11.59/SF
Area
Sugar Land, TX
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,591,280
Cap Rate 7%
$1,850,914
Cap Rate 9%
$1,439,600
Alternative Uses
Best Use
Retail
$1.85M
$1.62M – $2.16M
NOI $129,564 @ 7.0% cap · market cap 3.50%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.14M
$1.87M – $2.49M
NOI $149,682 @ 7.0% cap · market cap 4.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
127,000 VPD
Traffic count
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,140
Businesses Nearby
290k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 75%
Shops & Services 18%
Groceries 2%
Home Improvements & Furnishings 1%
Chick-fil-A
Dining
38,666 visits/mo
0.4 miles
Whataburger
Dining
36,318 visits/mo
0.4 miles
Starbucks
Dining
22,751 visits/mo
0.5 miles
H-E-B Fuel
Shops & Services
20,411 visits/mo
0.4 miles
Gringo's Mexican Kitchen
Dining
19,795 visits/mo
0.4 miles
Demographics for 77479, TX
93,180
Population
30,680
Households
3
Avg Household Size
41
Median Age
68%
College-Educated
96%
High-School Grad
32.7 sq mi
ZIP Area
2,850
Density / Sq Mi
$162,381
Median Household Income
$73,630
Median Earnings
$1,997
Median Rent
$462,200
Median Home Value
Market
Vacancy Rate% for Retail in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Shopping center - Retail center with established occupancy, national and local operators, and a drive-thru restaurant component.
Where is this shopping center located?
The property is located at 20333 Southwest Fwy Sugar Land, TX.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: 11,177 SF two‑story shopping center; 92% leased to local and national operators; DaVita Dialysis and Domino’s Pizza are existing occupants
